{"id":46015,"date":"2017-02-28T09:30:22","date_gmt":"2017-02-28T02:30:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-net-profit-down-11-in-2016\/"},"modified":"2017-03-01T17:14:51","modified_gmt":"2017-03-01T10:14:51","slug":"ho-bee-land-net-profit-down-11-in-2016","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-net-profit-down-11-in-2016\/","title":{"rendered":"Ho Bee Land net profit down 11% in 2016"},"content":{"rendered":"


\nHo Bee Land continues to foray into overseas markets to enhance its earnings.\u00a0
\nProperty developer Ho Bee Land saw its net profit for the fourth quarter ended 31 December 2016 drop 33.1 percent to $129.5 million.
\nGroup turnover increased 19 percent to $42.5 million, while earnings per share dropped to 19.5 cents from 29.1 cents.
\nFor the full year, net profit fell 11 percent to $216.8 million from $242 million in 2015, mainly due to \u201clower gain in fair value of investment properties, which amounted to $104.1 million as compared to $186.4 million in the previous year\u201d.
\nGroup turnover soared 130 percent to $299.4 million, primarily due to sales recognition of two residential projects in Gold Coast and Melbourne in Australia, which were completed in the first half of 2016.
\nEarnings per share for the year fell to 32.5 cents from 36.3 cents in the previous year.
\n\u201cDespite the foreign exchange loss arising from Brexit and the challenging real estate environment, the group had performed reasonably well,\u201d said Group CEO and Chairman, Chua Thian Poh.
\n\u201cThis good performance is attributed to the solid recurring income from our investment properties, as well as the contributions from our Australia and China development projects.\u201d
\nWith this, the board has proposed a first and final dividend of six cents per share, he noted.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Ho Bee Land net profit down 11% in 2016<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ho Bee Land continues to foray into overseas markets to enhance its earnings.\u00a0 Property developer...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-46015","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bYb","jetpack-related-posts":[{"id":106783,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-profit-down-44-in-q1-2019\/","url_meta":{"origin":46015,"position":0},"title":"Ho Bee Land Profit Down 44% In Q1 2019","date":"May 2, 2019","format":false,"excerpt":"\r This comes as share of profits from associates declined 85 percent \u201cdue to lower sales and profit recognition from a residential development project in Shanghai\u201d. 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Property developer Wing Tai Holdings saw its net profit for the financial year ended 30 June 2016 plunge by 95 percent year-on-year to $59.4 million, while revenue dropped by 20 percent on year to $544.5 million.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46015"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=46015"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/46015\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=46015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=46015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=46015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}